M&A Activity • Apr 23, 2012
M&A Activity
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Paris, April 19th 2012 – 6:00 pm Press release
Paris, April 19th 2012 – 6:00 pm - Altarea Cogedim sold « Grand'Tour 1 » and « Grand'Tour 2 » retail assets located North of Bordeaux (Sainte-Eulalie), to Ciloger, a real estate asset management company.
« Grand' Tour 1 », which opened in 1992, is a 11,350 sqm GLA shopping center anchored by a Leclerc hypermarket and 56 stores, with parking space for 1,600 cars. It was fully renovated in 2006 and covers a catchment area of 250,000 inhabitants.
« Grand' Tour 2 » , with an area of 14,550 sqm GLA, was opened in 2004 to add retail capacity to "Grand' Tour 1", with 15 stores and parking for 600 vehicles.
Altarea Cogedim will continue to manage the centres on behalf of Ciloger. These assets were sold for a total value of EUR 82.6m.
The vendor was advised by Maître Olaf Dechin (Alexandre-Dechin-Devriendt-Hoang Office). The buyer was advised by Maître Jean-Alain Casagrande (Casagrande-Labrousse-Rollet Office).
Listed in compartment A of NYSE Euronext Paris (SRD Long Only), Altarea Cogedim is a significant participant in the realestate markets. As both a retail property investor and a developer, it is the only group in the 3 main property markets: retail, residential, office. For each it has the complete skill-set required to design, develop, sell and manage bespoke realestate products. By acquiring French web merchant RueduCommerce on December 31, 2012, Altarea Cogedim became the 1st multi-channel retail property company.
As of year end 2012, Altarea Cogedim owned investment assets comprised of shopping centers worth 2.6 Million euros with a market capitalization of 1.2 Billion euros
Eric Dumas, Chief Financial Officer [email protected], tel: + 33 1 44 95 51 42
Nathalie Bardin, Head of Communications [email protected], tel: +33 1 56 26 25 36
ALTAREA COGEDIM CONTACTS CITIGATE DEWE ROGERSON CONTACTS
Analyst and investor relations [email protected], tel: +33 1 53 32 78 95 [email protected], tel : +33 1 53 32 84 76
Servane Tasle, Press Relations [email protected], tel: + 33 1 53 32 78 94
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